US STOCKS-Wall St drops on economic concerns despite bailout

* U.S. House of Representatives approves bailout

* Jobs fall the most in 5-1/2 years

* S&P 500, Nasdaq have worst week since Sept 2001

* Dow has worst week since July 2002

* Dow down 1.5 pct, S&P 500 off 1.3 pct, Nasdaq down 1.5

pct (Updates to close)

By Kristina Cooke

NEW YORK, Oct 3 (Reuters) -Wall Street ended its worst week in seven years with another tumble on Friday on fears that the $700 billion financial rescue package may not unblock credit markets and stave off a U.S. recession.

After much legislative haggling that roiled and captivated global markets for the past two weeks, the U.S. House of Representatives passed the bill on its second try and President George W. Bush signed it into law.  Continued...